Last checked at 19 Jun 2019 07:00
(the "Company")
19 June 2019
SALE OF SHARES IN BLOCK ENERGY PLC
Sunrise Resources plc wishes to advise that it has sold its shareholding in Block Energy PLC.
The Company's holding of 466,474 shares in Block Energy PLC was sold on 18 June 2019 at an average price of 10.43 pence per share for gross proceeds of £48,649.
This represents a book profit of £23,120 after acquisition and disposal costs. The net proceeds of the sale will be added to the Company's existing cash resources and used to advance its CS Pozzolan-Perlite Project in Nevada, USA.
Commenting today Sunrise Executive Chairman Patrick Cheetham said: "Whilst we see a bright future for Block Energy this disposal is in line with our strategy to sell or joint venture non-core assets as an alternative to raising money from the markets as we progress our CS Project towards production."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: +44 (0)1625 838 884 |
Beaumont Cornish Limited Nominated Adviser James Biddle/Roland Cornish | Tel: +44 (0)207 628 3396 |
SVS Securities Plc Broker Tom Curran/Ben Tadd | Tel: +44 (0)203 700 0093 |
Shares in the Company trade on AIM under the symbol "SRES" and also on the NEX Exchange (Secondary Market).